Cambridge Investment Research Advisors Inc. lifted its position in shares of Textron Inc. (NYSE:TXT - Free Report) by 31.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 38,424 shares of the aerospace company's stock after acquiring an additional 9,082 shares during the period. Cambridge Investment Research Advisors Inc.'s holdings in Textron were worth $2,776,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also made changes to their positions in the company. Oppenheimer & Co. Inc. lifted its position in shares of Textron by 438.9% in the 4th quarter. Oppenheimer & Co. Inc. now owns 21,698 shares of the aerospace company's stock worth $1,660,000 after buying an additional 17,672 shares during the last quarter. Proficio Capital Partners LLC bought a new position in Textron in the fourth quarter worth about $6,512,000. US Bancorp DE boosted its stake in Textron by 7.4% in the fourth quarter. US Bancorp DE now owns 27,133 shares of the aerospace company's stock valued at $2,075,000 after acquiring an additional 1,877 shares during the period. Metis Global Partners LLC grew its holdings in shares of Textron by 3.3% during the fourth quarter. Metis Global Partners LLC now owns 6,315 shares of the aerospace company's stock valued at $483,000 after purchasing an additional 199 shares during the last quarter. Finally, Jones Financial Companies Lllp raised its position in shares of Textron by 72.8% during the 4th quarter. Jones Financial Companies Lllp now owns 3,069 shares of the aerospace company's stock worth $235,000 after purchasing an additional 1,293 shares during the period. 86.03% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of research analysts recently commented on the company. The Goldman Sachs Group restated a "neutral" rating and set a $85.00 price objective (down from $95.00) on shares of Textron in a research note on Tuesday. UBS Group upped their price target on shares of Textron from $62.00 to $63.00 and gave the stock a "sell" rating in a research report on Monday, April 28th. Citigroup dropped their price objective on shares of Textron from $111.00 to $107.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. Jefferies Financial Group reissued a "buy" rating and set a $95.00 target price (up from $85.00) on shares of Textron in a research note on Thursday, June 12th. Finally, Morgan Stanley decreased their target price on shares of Textron from $82.00 to $71.00 and set an "equal weight" rating for the company in a research report on Friday, April 11th. One analyst has rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $88.08.
Get Our Latest Stock Analysis on TXT
Textron Price Performance
Shares of NYSE TXT traded down $0.19 during mid-day trading on Wednesday, reaching $80.80. 127,091 shares of the company traded hands, compared to its average volume of 1,257,445. Textron Inc. has a fifty-two week low of $57.70 and a fifty-two week high of $94.57. The firm has a market cap of $14.59 billion, a PE ratio of 18.32, a price-to-earnings-growth ratio of 1.31 and a beta of 1.17. The stock has a fifty day simple moving average of $74.68 and a 200-day simple moving average of $73.85. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.80 and a quick ratio of 0.83.
Textron (NYSE:TXT - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The aerospace company reported $1.28 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.17 by $0.11. Textron had a return on equity of 14.77% and a net margin of 5.98%. The firm had revenue of $3.31 billion during the quarter, compared to analyst estimates of $3.26 billion. During the same period last year, the company posted $1.20 EPS. The firm's quarterly revenue was up 5.5% on a year-over-year basis. Equities research analysts anticipate that Textron Inc. will post 6.12 EPS for the current fiscal year.
Textron Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th were issued a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a yield of 0.10%. The ex-dividend date was Friday, June 13th. Textron's payout ratio is 1.81%.
Textron Profile
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Free Report)
Textron Inc operates in the aircraft, defense, industrial, and finance businesses worldwide. It operates through six segments: Textron Aviation, Bell, Textron Systems, Industrial, Textron eAviation, and Finance. The Textron Aviation segment manufactures, sells, and services business jets, turboprop and piston engine aircraft, and military trainer and defense aircraft; and offers maintenance, inspection, and repair services, as well as sells commercial parts.
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